adminIn recent developments, key takeaways ETH is up 1.4% in the last 24 hours and is now trading above $3,200. The leading altcoin by market cap could retest the $3k psychological level as the bullish momentum stalls. Market momentum stalls Bitcoin (BTC) and Ethereum (ETH) are currently trading around key resistance levels after rallying over the past 24 hours. The resistance levels could see the leading cryptocurrencies retest lower psychological areas before either dumping harder or embarking on a successful breakout. At press time, Ether is trading above $3,200 per coin after adding 1.4% to its value in the last 24 hours. It failed to surpass the $3,500 resistance level on Friday despite the Federal Reserve reducing its benchmark interest rate for the third time this year. However, the Fed delivered a hawkish rate cut, causing the market sentiment to shift bearish and Ether to retest the $3,100 level on Thursday. The market has now bounced back, and Ether could reclaim the $3,500 resistance if the rally continues. Ether could retest $3k before rallying higher The ETH/USD 4-hour chart is bullish and efficient, as Ether has added nearly 4% to its value since the start of the week. Ether’s price broke above the descending trendline (drawn by joining multiple highs since October 7) earlier this week and rose by 6.2% on Wednesday. However, it declined below $3,100 following the FOMC meeting, with a key resistance level set around $3,500. If Ether closes its daily candle above the 50-day EMA at $3,310, it could rally towards the next major resistance at $3,592. The RSI of 54 is above the neutral 50, indicating a bullish momentum on the 4-hour timeframe. The Moving Average Convergence Divergence (MACD) showed a bullish crossover earlier this week, supporting a bullish bias. However, if the daily candle fails to close above $3,310, Ether could face another correction towards the daily support level at $3,017. The post Ether could retest $3k as bullish momentum stall: Check forecast appeared first on CoinJournal.
Looking closer, market participants highlight key drivers such as liquidity flows, macro risk appetite, regulatory headlines, and on-chain activity. Short-term swings often reflect liquidation cascades and funding imbalances, while spot volumes and exchange inflows set the broader tone.
Analysis: The medium-term picture hinges on whether buyers can sustain momentum without excessive leverage. If flows continue favoring majors like BTC and ETH, altcoins could experience a staggered rotation instead of a broad-based rally. Meanwhile, policy clarity in key jurisdictions remains a decisive catalyst; clearer rules typically compress risk premia and attract institutional allocations. Beyond price action, on-chain metrics such as active addresses, fees, and stablecoin velocity help validate trend strength.
Outlook: Over the next few weeks, observers will watch price acceptance above recent resistance, derivatives positioning, and ETF-related flows. A constructive setup would feature rising spot demand, contained leverage, and improving breadth across sectors such as DeFi, infrastructure, and Layer-2 ecosystems.
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